A very rare pink and massive pink diamond sold for a record $31.6 million at a Sotheby’s sale in Geneva, Switzerland, yesterday.

The ‘Unique Pink’ was part of a ‘Magnificent Jewels and Noble Jewels’ sale which netted a total of $175.1 million, setting a new world record for any jewellery sale, the auction house said.

The new world record for any jewellery auction eclipsed the previous record of $160.9 million also set by Sotheby’s in the same sale last year (May 2015).

The Geneva sale was led by the spectacular Unique Pink, a supremely rare Fancy Vivid Pink diamond weighing 15.38 carats that sold for an exceptional $31,561,200 (price per carat: $2,052,094).

The diamond was bought by an Asian private buyer who bid for it over the telephone.

David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, commented: “Exactly one year after having set the world record for a jewellery sale, Sotheby’s Geneva has raised the bar once again with a great sale and a great result for the Unique Pink. It is difficult to imagine a diamond that better illustrates the term Vivid Pink than this outstanding stone. The colour is simply astonishing and, for its size, it is in my experience truly unique. We set out to curate a sale that would speak to today’s collectors and the response has been overwhelming - confirmation, if ever it were needed, that when you have the right material, demand is as deep as it’s ever been. This was a sale that had the perfect mix of great gemstones and jewels, the vast majority of which were sourced from private collections.”

Sotheby’s also notched up a new record for an online purchase when a pair of pear-shaped Fancy Blue and Fancy Orangy pink diamond earrings sold for $6 million.

Among other highlights, a new record was set for a jewel by Alexandre Reza. Coming to auction from a noble collection, the brooch featuring a 6.64-carat Fancy Intense Blue diamond achieved $13.67 million, surpassing the previous auction record set by Sotheby’s Geneva in May 2010.

Among other records, a Fancy Pink diamond pendant weighing 18.51 carats sold for $9.77 million ($528,021 per carat), setting a new record in its category.

Also, a Fancy Purplish Pink diamond ring weighing 8.20 carats sold for $3.69 million, setting a record price per carat for a fancy purplish pink diamond ($450,744 per carat).

In other highlights, an Internally Flawless 7.32-carat Fancy Vivid Blue sold for $17.1 million ($2,337,791 per carat).

Also, 25 of 29 lots from an important private British collection of Cartier jewellery sold over estimate to realise a total of $3.4 million.